There’s a lot to love about Louisiana; from the warm weather and scenic swamps to the exciting New Orleans that becomes even more alive during Mardi Gras.
But one thing you probably don’t love about this southern state is its car insurance prices.
If you’re already paying for auto insurance in Louisiana, it will probably come as no surprise to hear that Louisiana is among America’s top three most expensive states for car insurance.
While the prices for car insurance in Louisiana are indeed intimidating, don’t get discouraged just yet. Our team of insurance experts here at ConsumerCoverage has put together this article to explain the ins and outs of low-cost car insurance in Louisiana.
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So just how expensive is Louisiana car insurance?
Before we tell you, there’s a few factors that you need to understand first. Car insurance prices are not universal, rather they are affected by a variety of factors:
All of these factors and more are taken into account when determining your insurance premiums. Because of this variation, no two people will pay the same amount for their auto insurance policies.
That said, the overall average price for car insurance in Louisiana is $3 265 per year. This works out to be about $270 per month.
Louisianians pay an average of 114% more than the average American does for their car insurance. It’s only natural to wonder why this is the case.
As previously mentioned, one of the determining factors in pricing insurance is location. Based on statistics within a given state, insurers adjust their prices to be able to pay for claims.
Unfortunately for both the insurers and the insured, Louisiana has:
All of these factors combine to create higher-than-average insurance prices. But, as promised, we are here with all the information you need in order to save on car insurance in Louisiana.
Carrying car insurance is required by law, meaning that it’s illegal to drive without insurance. If you do, you’ll be subject to significant legal and financial penalties.
Each state has its own minimum coverage requirements. These are baselines for how much insurance every driver must carry.
In Louisiana, you must carry liability coverage for bodily injury and property damage. This coverage applies to legal fees associated with an at-fault accident. The minimum coverage amounts are as follows:
On average, a minimum coverage policy costs $795 annually.
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At first, you might think that choosing a minimum coverage policy is the best way to secure cheap car insurance in Louisiana. But this isn’t necessarily true.
Minimum coverage policies only cover liability, so you’re on your own for vehicle damages, personal injuries, etc. In reality, minimum coverage is only really the cheapest if you never have any accidents. Sadly, that’s just not how the world works (they are called accidents for a reason after all).
In order to balance a budget with security, insurance experts recommend a standard or “full coverage policy.” These policies include liability coverage alongside:
Standard car insurance policies tend to be the best option for affordable auto insurance in Louisiana.
Depending on your insurance provider, there are other coverage options available for purchase.
It’s worth at least considering the following additional coverages on your Louisiana car insurance:
These coverages exist for a reason, and that reason is that these situations arise in real life. And when they arise, you’ll want to be covered.
Before you write off these coverages as too expensive, let’s take a look at tips for finding cheap auto insurance in Louisiana.
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Cheap car insurance is still very much attainable, even in Louisiana. Here are our secrets to saving money on your auto insurance policy:
By implementing these tips, you’ll find the cheapest car insurance in Louisiana possible.
Our useful information on insurance doesn’t stop at this article. We have many more articles, blogs, and videos to educate and empower individuals to make good financial decisions.
ConsumerCoverage can also provide access to free Louisiana auto insurance quotes.
Reach out to us today!
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Jessica Fox Jessica Fox has been a freelance writer for five years, with a specialty in health, wellness, and insurance. During this time, she’s written for some of the biggest B2B and B2C brands from around the world. Jessica is also the mother of two young daughters and loves coffee, writing, and working out.
